New crackdown on buy-to-let sector ‘imminent’

In the wake of the warning from the Bank of England that the buy-to-let bubble could threaten the financial stability of the entire country, the UK chancellor, George Osborne, has indicated that a crack down on the buy-to-let sector is imminent. This is likely to take the form of new powers being given to the Bank of England to restrict the number and size of buy-to-let mortgages. The news was revealed in answers from the chancellor to the UK’s Treasury Select Committee.